The projected annual net cash flows associated with an investment opportunity are shown below in Table 5. The expected rate of return on the investment is 12%. Year Future Cash flows 1 220 000 2 250 000 3 300 000 4 200 000 5 180 000 Table 5: Annual net cash flows of the investment opportunity. Question 23 Determine the missing values represented by K, L, M, and N in Table 5. A K = 0.8929; L = R196 438; M = 0.7118 and N = R213 540 B K = 0.9009; L = R198 198; M = 0.7312 and N = R219 360 Question 24 Discount factor C K=0.9174; L=R201 828; M = 0.7722 and N = R231 660 D K = 0.8929; L= R196 438; M = 0.7722 and N = R231 540 K 0.7972 M 0.6355 0.5674 Question 25 Calculate the total present value of the net cash flows from the investment opportunity. A R859 028 B R902 575 C R838 510 D R866 704 Present Values L 199 300 N 127 100 102 132 If the Net Present Value of the investment opportunity is an unfavourable R11 490, what is the initial outlay? A R811490 B R850 000 C R848 510 D R860 000 (4 marks) (4 marks) (4 marks)